Zelensky’s office plans large-scale privatization of state banks

The Presidential Office plans to conduct a large privatization of state-owned banks to attract large foreign banking groups.

The Deputy Head of the Presidential Office of the President Oleksii Honcharuk said about this in an interview with Bloomberg.

“Banks should be sold first. I would like ten large system banks to enter Ukraine. In order to do this, we need to demonstrate economic growth, independence of the banking regulator – the National Bank – and to improve the work of the judicial system,” the deputy head of the Presidential Office said.

In the updated strategy for reforming state-owned banks, published in 2018, the Ministry of Finance set the task to decrease the state’s share in the banking sector from 55% to 24% by 2022.

As The Journalist reported, Presidential Administration will improve Ukraine’s credit rating and large-scale privatization.